I always wonder if instead of burning we would create an account that no one has the keys to and we just send beneficiaries to it, it would take inflation ~3% if powered up, but not take away tokens from total marketcap.
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We kind of have that now with ranchorelaxo, he lost his keys and Haejin only has the posting keys and unfortunately 300K HP delegation. All the curation rewards earned on Rancho are likely lost for good. Unfortunately this doesn't get reflected anywhere.
The "burning" being done imo does nothing, no one cares or really looks at supply to make decisions. I've always said, I can burn my entire stake (~3M Hive) and the price won't move one cent. That being said, removing Hive/HBD from circulation does reduce sell pressure, and that for sure affects the price.
yeah i don't disagree that burning doesn't really do anything and people won't care, it's just that when/if we'd happen to get some kind of attention again and Hive say would get back to $3+, having 500k-5m more coins, whether or not they belong to anyone in marketcap could potentially at that time get us a few extra spots compared to competitors since that'd be $1.5m-15m, it could also be the difference between page 2 and page 3 even just for a few days or 2 and 1 which could get us more views/attention/new investors/interest.
if rancho really lost his keys or just says that isn't for certain :p we could create an account that for sure won't use the tokens as sell pressure, either through multi-sig or setting its keys to null or something
An account with tokens is always a higher risk over burning to null immediately
they have a much easier time to surpass us in rank due to total marketcap even though their chain is ~10h+ behind.
They also have more investors and onboarding. Solana is a great example that technicals don't mean shit.
Yea, some buying pressure can mive the nidle a lot
buying pressure? lol